Lotus and Cosworth will partner established IndyCar competitors KV Racing Technology to run in the 2010 IndyCar Series. Behind this deal is the “real Lotus”, unlike Formula 1’s Malaysian owned Lotus Racing, which has little to do with Lotus Cars or Lotus Engineering. The American based series is where hottie Danica Patrick races in.

The Lotus-Cosworth IndyCar will use the classic green and yellow livery used on the firm’s race cars in the 50s and 60s. The man behind the wheel will be former F1 driver Takuma Sato, and the car will make its debut at St. Petersburg, Florida, the second race of the 2010 season. We suspect that, for this season at least, the Lotus-Cosworth will be a reskin of KV Racing’s existing car. All IndyCars run on Honda V8s, and so will this.

Lotus competed in the IndyCar Series in the 1960s, winning the Indianapolis 500 race outright in 1965 with the pioneering Lotus Type 38 driven by Jim Clark, and narrowly missing victory to come second in 1963. The return to the IndyCar Series follows the recent announcement by Lotus and Cosworth to form a strategic partnership to develop engines for Lotus cars.

“Racing has always defined Lotus and on many occasions in motorsports history Lotus’ numerous innovations have re-defined racing. It’s only fitting that as the Lotus Racing name re-enters Formula 1, we will also race and innovate again in IndyCar. The Lotus name will, once again compete in the top two open-wheel racing series for the passion and enthusiasm of car fans around the globe,” said Dany Bahar, CEO of Group Lotus.